Federal Budget 2018-2019

Scott Morrison’s third budget is headlined by $140 billion in tax cuts over the next decade, immediate tax relief of up to $1,060 a year for middle-income households and a fundamental reform of the tax system.   Summary of Budget measures   Note: These...

Federal Budget 2017-2018

Summary Last night the Federal Government handed down its Budget for the 2017–18 financial year. Tax measures Increase in Medicare levy from 2% to 2.5% from 1 July 2019 Owners of investment properties no longer be able to claim travel expenses to visit their...

Federal Budget 2016-2017

Summary Tax measures The income tax threshold at which the 37% tax applies will increase to $87,000 p.a. on 1 July 2016, from the current $80,000 p.a. The tax rate for small business companies will reduce to 27.5% for businesses with a turnover up to $10 million in...

Federal Budget 2015-2016

Key Highlights The goodies include: More generous child care payments; Lower taxes and increased deductions for small business; Increased infrastructure spending in northern Australia.   New spending has been offset by various savings, including: A lowering in...

Federal Budget 2014-2015

Key Highlights Budget repair levy of 2% for incomes over $180,000 p.a. over the next 3 years Tightening of Family Tax Benefit (FTB) eligibility and payments for families Age Pension age will increase to 70 years by 2035 Medical appointment co-payment of $7 to visit...